Aussie Seniors Unrobe to Protest Pension Problems
Derobing is certainly a novel way to draw attention to "anemic" benefits. According to "Seniors strip in pension protest" by Stacey Zenin (theage.com.au, May 16, 2008), several hundred retirees took off a few pieces of clothes to campaign for a "fair go for pensioners." Believing that the current federal budget does too little to add to post-employment financial security, seniors clamor for "between $70 and $100 extra per week in their pensions." Not unique to Down Under, the problem of financing retirement benefits is fast reaching crisis proportion for numerous governments. Balancing a budget is tough going without considering changes in tax policies and benefit levels.
For an interesting take on the Australian pension system, check out "Risk-Based Supervision of Pension Funds in Australia" by Graeme Thompson, February 1, 2008, World Bank Policy Research Working Paper No. 4539.
Editor's Notes:
1. This blogger had the pleasure of working with Mr. Graeme Thompson on a Chilean pension project, done in conjunction with Dr. Roberto Rochas of the World Bank.
2. Check out the pension risk management section of the Social Science Research Network.
